A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administrations effort to nationalize the nations pension system and to eliminate private retirement accounts including IRAs and 401k plans, NSC is warning.

This was known before the election; it was not a secret. It should be clear to all but the dimmest bulb that the RATs were projecting when they cried out about all those things Romney and the Republicans would do.

The Obama Administration has a point. We do need to be “secure” in our later years, and there is a “social” interest in insuring that “security”, so I don’t see anything that could possibly go wrong. We could fund it via a payroll tax that could be split between the worker and the employer. That money would be completely separate from other government spending. Why haven’t they already tried this?!?!

Did Obama mention this in his campaign? Do his union buddies know about this? What is Social Security? I guess the people who make all the big bucks in DC need to do something, so coming up with other ways to take money from citizens is what they are there to do. Ugh.

I remember when a very intelligent friend from my youth scoffed at me for calling Obama a communist when he was first elected.

If this ever got as far as serious debate in the Congress (which it won’t). The stock market would immediately plunge 10,000 points as everybody emptied their IRA/401-K. Anybody with a lick of sense would rather take the IRS early withdrawal penalty and save some of their money than to lose it all.

If 401k’s are confiscated. Violence is justified, just as it would be against a stickup man at an ATM. They are playing with fire. People tolerate general attacks on prosperity like more taxes, and bad energy policies.
But an outright theft of savings will result in someone resorting to direct violence against the political perpetrators.

And no trade of getting a social security style pension at the end will protect them. When they confiscate in return for a secure pension, the balance upon death will not be passed onto heirs. The government will keep the change when you die.

32
posted on 11/15/2012 1:11:00 PM PST
by DesertRhino
(I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office.)

no bullets will fly because theyll implement it like Obamacare and most other things marxist do...incrementally.

the frogs in the slow boiling pot.

Watch out for a requirement that 401ks and IRAs invest a small amount of money in "safe" investments like treasury bonds in order to keep their tax deferral. Then that small amount will gradually climb over the years until nearly all the retirement money has to be invested in bonds.

34
posted on 11/15/2012 1:13:56 PM PST
by KarlInOhio
(Big Bird is a brood parasite: laid in our nest 43 years ago and we are still feeding him.)

It might be time for some billboards, with something to the effect of, “If you take my retirement account, YOU WON’T LIVE LONG ENOUGH TO SPEND IT”. At that point it wil be right and proper to bring those thieves down to room temperature.

37
posted on 11/15/2012 1:19:21 PM PST
by Windcatcher
(Obama is a COMMUNIST and the MSM is his armband-wearing propaganda machine.)

I think it’s an easy prediction. Only a blind man can’t see that there is a marxist revolution intent on confiscating everything. It has no intention to stop for anything.

But there is also a very big minority of Americans, at least 40% who are being pushed very deep into a corner. They are not looking for a fight, and keep stepping deeper into the corner. hoping to be finally left alone. But there is not much further to go into the corner. These people DO have a point beyond which they will lash out and attack their tormenters.

One side is on the attack, and the other is nearly out of ways to avoid them. We all saw this 100 times in the schoolyard. A confrontation is coming. Lord hope it’s political, but that option is now vanishing quickly due to systemic voter fraud.

When the ballot box is gone, there is only one option.

43
posted on 11/15/2012 1:26:52 PM PST
by DesertRhino
(I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office.)

I don’t think you have much to worry about but IF they did do this there would be little you could do about it. Executive order freezing all IRAs, 401s, defined benefit plans. Work out the details after that while you (all of us) wondered why we didn’t see it coming. I do think that would be the last straw for a bunch of people who scrimped and saved over a life time for a comfortable retirement. The gauntlet would be thrown down.

You get your info from your retirement fund and you see the “government” has taken control and has divided it up among the people. Your neighbor, who’s retirement plan was a couple of scratch offs and a quick pick, will see a retirement fund for the first time in his life and that will make him happy.

So, do you shoot at the “government”? Or do you shoot at the happy neighbor?

You’re correct.
Lots of bluster on here, but the reality is this stuff is 99% held in electronic accounts that could be frozen without warning.
And then what happens? Do you go over and shoot your neighbor who’s a janitor at the local federal building?

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